Banco Macro (NYSE:BMA) Trading Up 4.4%

Shares of Banco Macro S.A. (NYSE:BMA) traded up 4.4% during mid-day trading on Wednesday . The stock traded as high as $59.41 and last traded at $59.34. 169,024 shares changed hands during mid-day trading, a decline of 54% from the average session volume of 369,292 shares. The stock had previously closed at $56.83.

Analyst Ratings Changes

BMA has been the topic of several analyst reports. Bank of America raised shares of Banco Macro from an “underperform” rating to a “neutral” rating and increased their target price for the stock from $53.00 to $62.00 in a research report on Thursday, August 8th. StockNews.com lowered Banco Macro from a “buy” rating to a “hold” rating in a report on Tuesday.

Banco Macro Stock Performance

The stock’s 50-day moving average price is $55.17 and its 200 day moving average price is $50.39. The company has a quick ratio of 1.05, a current ratio of 0.77 and a debt-to-equity ratio of 0.13. The company has a market cap of $3.73 billion, a P/E ratio of 3.55 and a beta of 1.91.

Banco Macro (NYSE:BMA) last announced its earnings results on Thursday, May 23rd. The bank reported $5.02 EPS for the quarter, topping the consensus estimate of $2.19 by $2.83. Banco Macro had a net margin of 16.33% and a return on equity of 37.91%. The firm had revenue of $1.87 billion for the quarter. As a group, research analysts expect that Banco Macro S.A. will post 11.83 EPS for the current fiscal year.

Banco Macro Increases Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Friday, August 23rd. Investors of record on Friday, August 16th will be given a dividend of $1.798 per share. This represents a $21.58 annualized dividend and a dividend yield of 36.96%. The ex-dividend date of this dividend is Friday, August 16th. This is a boost from Banco Macro’s previous monthly dividend of $1.74. Banco Macro’s payout ratio is currently 127.41%.

Institutional Investors Weigh In On Banco Macro

Several hedge funds have recently modified their holdings of BMA. Hsbc Holdings PLC bought a new stake in shares of Banco Macro in the fourth quarter valued at about $1,475,000. LSV Asset Management grew its holdings in shares of Banco Macro by 11.3% during the 1st quarter. LSV Asset Management now owns 64,000 shares of the bank’s stock worth $3,084,000 after purchasing an additional 6,500 shares in the last quarter. SG Americas Securities LLC bought a new stake in shares of Banco Macro during the first quarter valued at approximately $348,000. Glenorchy Capital Ltd acquired a new position in shares of Banco Macro in the fourth quarter valued at $2,217,000. Finally, Allspring Global Investments Holdings LLC bought a new position in Banco Macro in the fourth quarter worth $1,462,000.

Banco Macro Company Profile

Banco Macro SA provides various banking products and services to retail and corporate customers in Argentina. It offers various retail banking products and services, such as savings and checking accounts, time deposits, credit and debit cards, consumer finance loans, mortgage loans, automobile loans, overdrafts, credit-related services, home and car insurance coverage, tax collection, utility payments, automated teller machines (ATMs), and money transfers.